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Subsea 7 contract extensions in Brazil worth $250m

Subsea 7 contract extensions in Brazil worth $250m

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21 July 2017

Subsea 7 today sealed a contract extensions for three pipelay support vessels currently working offshore Brazil.

The extensions will generate $250million for the Luxembourg-registered firm.

The Seven Waves, Seven Rio and Seven Sun vessels will earn the same day rates that were awarded in the original contracts.

Marcelo Xavier, vice-president for Brazil, Subsea 7, said: "These contract extensions reflect our long-standing relationship with Petrobras.

"We are focused on delivering a safe and reliable performance. We have the right capability and capacity in Brazil to meet our clients’ needs.”